Moors & Cabot Inc. Grows Position in Permian Basin Royalty Trust (NYSE:PBT)

Moors & Cabot Inc. grew its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 460,087 shares of the oil and gas producer’s stock after acquiring an additional 87,080 shares during the quarter. Moors & Cabot Inc. owned about 0.99% of Permian Basin Royalty Trust worth $5,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Schwartz Investment Counsel Inc. lifted its position in Permian Basin Royalty Trust by 16.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock valued at $12,793,000 after purchasing an additional 158,500 shares during the last quarter. Foundation Resource Management Inc. grew its position in Permian Basin Royalty Trust by 0.8% in the first quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock worth $8,260,000 after acquiring an additional 5,671 shares in the last quarter. Mad River Investors increased its stake in Permian Basin Royalty Trust by 4.6% in the second quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock valued at $2,975,000 after acquiring an additional 11,726 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in Permian Basin Royalty Trust by 2.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 147,246 shares of the oil and gas producer’s stock valued at $2,061,000 after acquiring an additional 4,023 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Permian Basin Royalty Trust during the second quarter valued at about $1,303,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 2.5 %

PBT opened at $11.68 on Tuesday. The stock has a 50-day moving average price of $11.19 and a 200-day moving average price of $11.82. Permian Basin Royalty Trust has a 12-month low of $10.14 and a 12-month high of $22.50.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $8.83 million during the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.052 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.62 annualized dividend and a yield of 5.34%. Permian Basin Royalty Trust’s payout ratio is 100.00%.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.